Kurt James Wolf Sells 281,117 Shares of Pitney Bowes (NYSE:PBI) Stock

Key Points

• CEO Kurt James Wolf sold 281,117 Pitney Bowes shares on June 10 at an average price of $16.93, totaling about $4.76 million and cutting his ownership by 47.32%. He has also made several additional large sales in recent days.
• Pitney Bowes stock has been rallying, rising 0.9% to $17.30 and trading near its 52-week high of $17.59. The company’s market cap is about $2.34 billion, with shares above both the 50-day and 200-day moving averages.
• Analysts and earnings updates have turned more positive: the company recently matched quarterly EPS estimates and beat revenue expectations, while several firms have upgraded the stock. Wall Street now has an average rating of Moderate Buy with a price target of $16.43.

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) CEO Kurt James Wolf sold 281,117 shares of Pitney Bowes stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $16.93, for a total value of $4,759,310.81. Following the transaction, the chief executive officer owned 312,955 shares in the company, valued at approximately $5,298,328.15. This trade represents a 47.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kurt James Wolf also recently made the following trade(s):

• On Friday, June 12th, Kurt James Wolf sold 322,829 shares of Pitney Bowes stock. The stock was sold at an average price of $17.40, for a total value of $5,617,224.60.
• On Thursday, June 11th, Kurt James Wolf sold 210,871 shares of Pitney Bowes stock. The stock was sold at an average price of $17.02, for a total value of $3,589,024.42.
• On Friday, May 22nd, Kurt James Wolf sold 40,476 shares of Pitney Bowes stock. The stock was sold at an average price of $15.62, for a total value of $632,235.12.
• On Friday, May 8th, Kurt James Wolf sold 389,161 shares of Pitney Bowes stock. The stock was sold at an average price of $15.69, for a total value of $6,105,936.09.
• On Thursday, May 7th, Kurt James Wolf sold 597,224 shares of Pitney Bowes stock. The stock was sold at an average price of $15.59, for a total value of $9,310,722.16.
• On Wednesday, May 6th, Kurt James Wolf sold 966,561 shares of Pitney Bowes stock. The stock was sold at an average price of $14.58, for a total value of $14,092,459.38.
• On Thursday, April 2nd, Kurt James Wolf sold 39,919 shares of Pitney Bowes stock. The stock was sold at an average price of $11.14, for a total value of $444,697.66.
• On Wednesday, April 1st, Kurt James Wolf sold 160,289 shares of Pitney Bowes stock. The stock was sold at an average price of $11.06, for a total value of $1,772,796.34.

Pitney Bowes Trading Up 0.9%

NYSE:PBI traded up $0.16 during mid-day trading on Friday, reaching $17.30. 2,985,341 shares of the stock were exchanged, compared to its average volume of 2,858,893. The business has a fifty day moving average price of $14.68 and a 200 day moving average price of $11.91. The firm has a market capitalization of $2.34 billion, a PE ratio of 16.79, a PEG ratio of 0.76 and a beta of 1.63. Pitney Bowes Inc. has a 1-year low of $8.95 and a 1-year high of $17.59.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.47. The firm had revenue of $477.41 million for the quarter, compared to analyst estimates of $471.83 million. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.Pitney Bowes's revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. On average, sell-side analysts forecast that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Monday, May 18th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, May 18th. Pitney Bowes's payout ratio is presently 38.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PBI shares. Wall Street Zen upgraded Pitney Bowes from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 25th. Zacks Research upgraded Pitney Bowes from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Bank of America upgraded Pitney Bowes from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $9.50 to $16.50 in a report on Monday, May 11th. Citigroup reaffirmed an "outperform" rating on shares of Pitney Bowes in a research note on Friday, June 5th. Finally, Truist Financial boosted their target price on shares of Pitney Bowes from $11.00 to $15.00 and gave the company a "hold" rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $16.43.

Hedge Funds Weigh In On Pitney Bowes

A number of large investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in shares of Pitney Bowes by 133.1% in the first quarter. Royal Bank of Canada now owns 52,958 shares of the technology company's stock worth $478,000 after purchasing an additional 30,238 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Pitney Bowes by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,424 shares of the technology company's stock worth $882,000 after purchasing an additional 5,149 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Pitney Bowes in the first quarter worth approximately $96,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Pitney Bowes by 18.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,488 shares of the technology company's stock worth $4,258,000 after purchasing an additional 72,437 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Pitney Bowes by 15.5% in the first quarter. Intech Investment Management LLC now owns 195,309 shares of the technology company's stock worth $1,768,000 after purchasing an additional 26,260 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company's stock.

About Pitney Bowes

Pitney Bowes Inc NYSE: PBI is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company's core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.

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